Oil futures on Monday suffered their biggest one-day percentage plunge since the Gulf War in January 1991, slumping to a four-year low as Russia and Saudi Arabia geared up for a global price war that threatens to flood the world with crude at the same time demand is under pressure due to the global spread of COVID-19.

West Texas Intermediate crude for April delivery on the New York Mercantile Exchange fell $10.15, or 24.6%, to end at $31.13 a barrel.

Source : Market Watch

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